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Rivernorth Cuts Apple Stake Amid Patent Verdict Concerns

Guavy AI Editorial Team
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AAPL
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Rivernorth Capital Management LLC has reduced its stake in Apple Inc. (NASDAQ:AAPL) by 50.2% in the second quarter, according to a recent SEC filing.

The fund owned 1,568 shares of Apple's stock after selling 1,579 shares during the quarter, worth approximately $454,000 as of its most recent SEC filing.

This move comes as Apple faces a $5.7 billion patent verdict over Taptic Engine claims, raising concerns about additional royalties and pressure on hardware margins.

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